Globus Medical (NYSE: GMED) + and Nuvasive today announced the completion of their previously announced merger.
The news sent GMED shares down more than 1% to $53.30 apiece by midday today, while MassDevice‘s MedTech 100 Index was up slightly.
Truist analysts cited investor fears over the deal causing near-term business disruptions. Globus Medical officials plan to discuss the closing of the merger and its potential benefits during the company’s third-quarter earnings call in November.
Richard Newitter, Samuel Brodovsky and Lin Zhang at Truist said: “Spine mergers historically have tended to be messy and often involve more disruption than parties originally anticipated. It’s possible ‘this time will be different’ — GMED is an exceptional company with a strong history of stellar execution — but we are not ready to make that call.”
The combined company is the world’…